Airtel sets up special panel to rejig company’s structure

By: |
February 17, 2021 10:07 PM

Bharti Airtel has set up a special panel to evaluate restructuring of its business as well as shareholding structure of the company

The transaction will be discharged primarily via issuance of about 3.64 crore equity shares of Airtel at a price of Rs 600 per share and up to Rs 1,037.8 crore in cash, Bharti Airtel had stated earlier.The transaction will be discharged primarily via issuance of about 3.64 crore equity shares of Airtel at a price of Rs 600 per share and up to Rs 1,037.8 crore in cash, Bharti Airtel had stated earlier.

Bharti Airtel has set up a special panel to evaluate restructuring of its business as well as shareholding structure of the company and its subsidiaries, to enhance focus on digital and non-telecom business. The restructuring may lead to consolidation or acquisition of shares of subsidiary companies, according to earlier disclosures by Bharti Airtel.

“The board of directors in its meeting held on Wednesday, February 17, 2021, has constituted a ‘special committee of directors’ to consider and evaluate in detail, various options (or combination thereof) for re-organisation of businesses and shareholding structure of the company and its various subsidiaries,” Bharti Airtel said in a stock exchange filing.

The exercise is being done with the objective to achieve required flexibility and sharper focus on digital and non-telecom businesses of the company, according to the filing. Bharti Airtel is reportedly looking to follow a structure similar to its rival Jio Platforms by creating a step-up entity for Airtel’s telecom and digital business.

Airtel’s digital business portfolio includes Wynk Music, Xstream and payments business. Airtel has also approached the RBI seeking licence to set up a small bank.

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